MUMBAI: The Sensex pared intraday gains and slipped in the negative territory as lower-than-expected index of industrial production data for September hurt sentiment.

India's IIP for the month of September fell to a shocking (-) 0.4 per cent on a year-on-year basis. ET Now poll expected the IIP to grow at 3 per cent in September as compared to 2.7 per cent in the month of August.

Revised figures released on Monday showed August output growth was revised down to 2.3 percent from 2.7 percent. In the April-September period, industrial production expanded an annual 0.1 percent.

At 11:10 a.m., the 30-share index was at 18,682.74, down 0.94 points or 0.01 per cent. It touched a high of 18,750.92 and a low of 18,640.35 in trade today.

The Nifty was at 5,688.55, up 2.30 points or 0.04 per cent. The broader index touched a high of 5,718.90 and a low of 5,678.25 in trade today.

"The trend deciding level for the day is 18,746 / 5,705 levels. If benchmarks trade above these levels during the first half-an-hour of trade then we may witness a further rally up to 18,833 - 18,983 / 5,733 - 5,779 levels. However, if they trade below 18,745 / 5,705 levels for the first half-an-hour of trade then they may correct up to 18,595 - 18,507 / 5,659 - 5,631 levels," said Angel Broking report.

The BSE Midcap Index was up 0.24 per cent and the BSE Smallcap Index gained 0.34 per cent.

Among the sectoral indices, the BSE FMCG Index was up 0.86 per cent, the BSE IT Index gained 0.85 per cent and the BSE Bankex moved 0.48 per cent higher. The BSE Oil & Gas Index was 0.64 per cent lower, the BSE Metal Index was down 0.53 per cent and the BSE Capital Goods Index declined 0.24 per cent.

United Spirits surged 20 per cent after Diageo Plc said that it will acquire 53.4 per cent stake in United Spirits for Rs 11,166.5 crore in a multi-structured deal.

UK-based firm entered into an agreement with United Breweries (Holdings) Limited and United Spirits Ltd (USL) to acquire 27.4 per cent stake in USL, the top liquor company in India at Rs 1,440 per share aggregating Rs 5,725.4 crore

The deal announced would also trigger an open offer for a maximum of 26 per cent stake from minority shareholders.

The market breadth was positive on the NSE with 741 gainers against 547 losers.

The foreign institutional investors sold shares worth Rs 204.24 crore on Friday as per the provisional data from the National Stock Exchange.